• Comparison by merger: proof of agreement between Fca and Psa (Peugeot-Citroen)
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30 October 2019The Psa group (Peugeot-Citroen) confirms, from Paris, that it has "ongoing discussions" with Fca for a "possible merger" with the aim of creating "one of the world's leading automotive groups". This is what we read in a note "following press rumors".

The anticipation of the Wall Street Journal
It was the Wall Street Journal that reported yesterday the rumor that Fiat Chrysler Automobile is arguing for a possible merger with Psa-Peugeot. According to the American newspaper, it would create an automotive giant worth 50 billion dollars. The discussion is still ongoing and the option is not just the merger.

Fiat Chrysler and the French group Psa, which owns the Peugeot and Citroen brands, are having "talks" for a "potential aggregation", writes the daily quoting people close to the dossier. The eventual agreement between the two companies "could create a colossus of the transoceanic car". One of the possibilities being discussed, the New York newspaper explains, is a fusion of equals.

The CEO of Psa, Carlos Tavares, would take the lead of the new post-aggregation group while the presidency would go to John Elkann, current president of Fca. According to the WSJ, discussions are still ongoing and companies may also consider other options and conditions. FCA ends up sprinting to Wall Street with negotiations rumors with Psa for a merger. FCA stocks rose 7.48%.

Fiom: protecting employment in Italy
"The important thing is to protect employment in Italy": this is how Michele De Palma, from the Fiom national secretariat for cars, comments on the rumors. "Since we are talking about an issue that concerns two multinationals and even two countries, it is essential that we do not review what happened with the Renault affair, but that the government and the Presidency of the Council protect the research and development capacity we have in our Country because the whole world of Italian components depends on this, in a moment of great transformation of the automotive sector ". "We have a common interest in our country and it is linked to the fact that there is an installed capacity to produce 1.5 million vehicles in Italy: any hypothesis of agreement or merger or joint venture must start from full employment and production of Italian factories "concludes De Palma.

Today cda Psa
The board of directors of Psa will meet on an extraordinary basis in the afternoon to evaluate a possible merger with FCA, reports the Bloomberg agency, citing some sources, according to which the negotiations are at an early stage. The French government, reports Bloomberg, will play an important role in a possible agreement.